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South Bend Redevelopment Commission <br /> Regular Meeting—February 8, 2011 <br /> Approximately $6,800 additional is needed <br /> to pay off a bank mortgage and gain clear <br /> title to this property. The property contains a <br /> 1,152 square foot, two story, four bedroom <br /> single family residence. <br /> Staff feels the total approximate acquisition <br /> cost of$28,300, plus associated relocation <br /> and closing costs, is reasonable for this <br /> property, in light of its size, condition, and <br /> amenities, and requests approval of the <br /> administrative settlement to complete <br /> acquisition of this property. <br /> Ms. Jones asked how much relocation and <br /> closing costs were expected to be. Mr. Relos <br /> responded that, typically, relocation amounts <br /> to about $15,000, plus whatever it takes to <br /> get them into a comparable home. <br /> Upon a motion by Mr. Varner, seconded by COMMISSION APPROVED THE ADMINISTRATIVE <br /> Mr. Downes and unanimously carried, the SETTLEMENT IN THE AMOUNT OF$6,800 PLUS <br /> Commission approved the Administrative ASSOCIATED RELOCATION AND CLOSING COSTS <br /> Settlement in the amount of$6,800 plus FOR ACQUISITION OF 1502 S.CHAPIN ST. <br /> associated relocation and closing costs for <br /> acquisition of 1502 S. Chapin St. <br /> (3) Proposal for Feasibility Study and <br /> Strategic Plan for a Multi-Cluster <br /> Technology Park. <br /> Ms. Hathaway noted that staff is requesting <br /> Commission approval of a proposal from <br /> Graham-Allen Partners to conduct a <br /> feasibility study for Ignition Park and to <br /> develop a strategic plan based on the findings <br /> of that study. The feasibility study will <br /> include a thorough analysis of industries that <br /> might support clustering and examine our <br /> ability to support the needs of those <br /> industries. A strategic plan will be <br /> developed based on the feasibility studies of <br /> 23 <br />